Often Satan snares Christians in

Archive: Financial Bondage—The Deadly Trap

By Larry Burkett
Reprinted from his book, “Your Finances in Changing Times”
©Campus Crusade for Christ, Inc., 1975.

Part II

It is important for a Christian to be able to recognize financial bondage, but it is equally important to know how to achieve freedom. Financial freedom manifests itself in every aspect of the Christian’s life—relief from worry and tension about overdue bills, a clear conscience before God and before other men, and the absolute assurance that God is in control of his finances.

This is not to say that a Christian’s life will be totally void of any difficulties in the area of finances. Often God will allow the consequences of earlier actions to remain in order to reinforce the lesson; also God does not promise to remove every difficulty.

How can we achieve financial freedom? What must we do according to God’s plan? The following are nine steps to financial freedom:

Transfer Ownership: A Christiam must transfer ownership of every possession to God. This means money, time, family, material possessions, education, even earning potential for the future. This is essential to experience the Spirit-filled life in the area of finances (Psalms 8:6).

It is simple to say, “I make total transfer of everything to God,” but not so simple to do. At first, anyone will experience some difficulty in consistently seeking God’s will in the area of material things because we are so accustomed to self-management and control. But financial freedom comes from knowing that God is in control.

Freedom from Debt: A Christian must get out of debt altogether. Again, let me define a Scriptural debt. Debt exists when any of the following conditions are true:

1. Payment is past due for money, goods or services that are owed to other people.

2. The total value of unsecured liabilities exceeds total assets. In other words, if you had to cash out at any time, there would be a negative balance on your account.

3. Anxiety is produced in the area of financial responsibility, and the family’s basic needs are not being met either because of past or present buying practices.

Freedom from debt involves getting and staying current. I suggest these steps:

A. Written Plan. A written plan is an absolute necessity for the Christian who is in financial bondage.

Use a written plan of all expenditures and their order of importance. The order of importance is crucial because we have lost the point of reference between needs, wants, and desires. Let’s examine the differences between a need, a want, and a desire:

1. Needs. These are the purchases necessary to provide your basic requirements such as food, clothing, a job, home, medical coverage, and others. “And if we have food and covering, with these we shall be content” (I Timothy 6:8).

2. Wants. Wants involve choices about the quality of goods to be used. Dress clothes versus work clothes, steak versus hamburger, a new car versus a used car.

3. Desires. These are choices according to God’s plan which can be made only out of surplus funds after all other obligations have been met.

The difference between needs, wants and desires can be illustrated this way: we can see in our society today that most people need an automobile. That need can be satisfied by a used Volkswagen. The want can be satisfied by a larger car such as an Oldsmobile. And the desire may only be satisfied by a brand new Cadillac.

Each of us must assess these levels according to the plan that God has for our lives. We must also assess movies or vacations accordingly. Those who are in debt have no prerogative but to meet their needs and then satisfy the needs of their creditors according to God’s plan. Always analyze every expenditure made in terms of these categories.

B. Living Essentials. A Christian in debt must stop any expenditure which is not absolutely essential for living (Proverbs 21:17). Look for services around the home that can be done without outside cost. Also begin to develop some home skills. By utilizing individual skills, you can begin to cut down on some of the expenditures which are not really essential.

It’s also important to learn to substitute for items of lower depreciation. For example, when purchasing appliances, select those without so many frills on them.

What I’m expressing is an attitude of conservatism. Begin to eliminate expenditures which are not essential, remembering that many expenditures are assumed to be essential only because of our society.

C. Think Before Buying. A Christian who is in debt (and even those who are not) should think before every purchase (Proverbs 24:3). very purchase should be evaluated as follows:

1. Is it a necessity? Have I assessed whether it is a need, a want, or a desire?

2. Does the purchase reflect my Christian ethics? (For example, Playboy does not reflect Christian ethics.) Can I continue to take magazines, encyclopedias, or other book and record subscriptions while I owe others?

3. Is this the very best possible buy I can get or am I purchasing only because I have this credit card?

4. Is it a highly depreciative item? Am I buying something that will devalue quickly? (Swimming pools, boats, sports cars all fall into this category.)

5. Does it require costly upkeep?

D. Discontinue Credit Buying. A Christian should also begin buying on a cash basis only. Often someone in debt, with an asset that can be converted into cash, will ask, “Would it be better to sell this asset and pay off the debts?” That’s normal mistake to make, but it only treats the symptom rather than the problem.

The principle to observe is this: If you are in debt from the misuse of credit, stop—totally stop—using It. Mail the cards back to their respective companies and ask them to mail you no more. Include in your letter the plan for paying that credit card debt, and then commit yourself to buying solely on a cash basis.

E. Avoid Leverage. When in debt, avoid the use of what is called “leverage.” Leverage is the ability to control a large asset with a relatively small amount of invested capital.

For example, if you bought a piece of property that cost $10,000 and required $1,000 down, that represents a nine to one lever. You have invested 10% of your money and borrowed 90%.

It should be understood that although the practice of leverage itself does not violate a Scriptural principle, it can fall into the category of a “get rich quick” scheme if used excessively.

F. Practice Saving. A Christian should practice saving money on a regular basis. This includes those who are in debt. Even if it is only $5 a month, develop a discipline of saving.

This does not mean to store up a large amount of money to the sacrifice of creditors, but one of the best habits that a young couple can develop is saving a small amount on a regular basis.

Everyone in our society living above the poverty level has the capability to save money, but many fail to do so because they believe that the amount that they can save is so small it’s meaningless. Others believe that God frowns upon a Christian saving anything. Neither of these two reasons are Scriptural. “There is precious treasure and oil in the dwelling of the wise, but a foolish man swallows it up” (Proverbs 21:20).

Establish the Tithe: Every Christian should establish the tithe as the minimum testimony to God’s ownership.

It is through sharing that we bring His power in finances into focus. In every case, God wants us to give the first part to Him, but He also wants us to pay our creditors. That requires establishing a plan and probably making sacrifices of wants and desires until all debts are current.

Accept God’s Provision: To obtain financial peace, recognize and accept that God’s provision is used to direct each of our lives. Often Christians lose sight of the fact that God’s will can be accomplished through a withholding of funds; we think that He can direct us only by an abundance of money. But God does not choose for everyone to live in great abundance.

Each Christian must learn to live on what God provides and not under pressure brought on by driving desires for wealth and material things. This necessitates planning lifestyles around the provision that God has supplied—it can be done.

How can a Christian actually apply this principle and find the level of living God has planned for his life? He can begin putting these attitudes into practice in the following areas:

A. Extra Income. Often when a family cannot pay its bills, the first thought is, “More money will help.” Perhaps the husband takes a second job or the wife goes to work. Before either step is taken, a Christian should assess whether he is living outside God’s will for his finances. Is a lack of money the problem or is it a wrong attitude?

Seek the possibility of extra income only after correcting buying habits. Quite often, when analyzed on paper, a working mother does not contribute any more actual income. In many cases it costs more money, considering the costs of child care, travel, and clothing. But the greatest sacrifice is the loss of family guidance from the mother. I believe there is no provision in God’s Word for a mother with children to work if she must sacrifice her children’s welfare. If there are no children at home, or the children are in school during the day, it should be an individual family decision. But it is necessary to first assess whether you are rationalizing that you cannot live within God’s provision.

B. Ask God First. Before making any purchase, regardless of the amount, give God the opportunity to provide that item first. Many times we pass by the blessings God has in store for us because, being Impulse buyers, we purchase without giving God the opportunity to show us His will.

Several things a Christian should cl before every purchase that is outside his normal budget are:

Pray about purchases. Absolutely no purchase is too large or too small to pray about. How can you know God’s will if you never ask Him?

Seek family counsel. Bring the entire family into the petition before God and allow them to share in the blessing of God answering prayer.

Seek God’s will. Learn to discern God’s will in requests. God is not under any obligation to grant our every wish since often we ask for things that hurt us. It is God’s wisdom that we are seeking; not ours. “For who has known the mind of the Lord, or who became His counselor?” (Romans 11:34).

A Clear Conscience: A Christian must have a clear conscience regarding past business practices and personal dealings.

God is saying, “Don’t give anything to the Lord as long as you have transgressed against your brother and you are not willing to make it right.”

Put Others First: A Christian seeking financial freedom must always be willing to put other people first. This does not imply that a Christian has to be a floor mat for others; it simply means that he doesn’t profit at the disadvantage of someone else. The key, again, lies in attitude.

Limit Time Involvement: A Christian must also limit time devoted to business affairs when family involvement suffers. “Do not weary yourself to gain riches, cease from your consideration of it. When you set your eyes on it, it is gone. For wealth certainly makes itself wings, like an eagle that flies toward the heavens” (Proverbs 23:4,5). Many Christians are trapped in this cycle of overcommitment to business or money pursuits.

It’s important to remember that the priorities God sets for us are very clear and that every Christian seeking God’s best must understand them. The first priority in a Christian’s life is developing his personal relationship with Jesus Christ.

The second priority of a Christian’s commitment is to his family, including teaching them from God’s Word.

This training requires a commitment to the family unit—and that means a specific time commitment, too. Christ deserves the best part of our day. If you study best in the morning, get up early in the morning and give time to the Lord. Sacrifice if necessary to do so. If you find that your family time together can take place best between eight and nine in the evening, commit that time to God.

The third priority in a Christian’s life should be church activities, social groups, work and all the hobbies that he might have.

Every Christian needs to assess whether he really allows God to have first place in his life. An assessment of this can be made by keeping a 24-hour calendar for about one week. Write down, on an hourly basis, each activity of each day. Observe how much time you give to God, how much time to your family, how much time to work, and how much time to pleasure.

I don’t mean to imply that God expects us to set aside eight hours each day for Him. But how much time do you give to God? ls it five, 10 minutes a day, or even less than that? How much time is devoted to television or newspapers that might be given to God? When you find a balance in your life, God will make the time spent more profitable. I believe that the majority of Christians could, if they planned their schedules properly, trim their average day back substantially and accomplish the same amount of work or perhaps more. But seek a balance. If business involvement requires that you sacrifice God’s work or your family, it is not according to His plan.

Avoid Indulgence: Every Christian, to achieve financial freedom, must avoid the indulgences of life.

The range in which God’s will can be found is between Luke 9:23 when Christ said, “If anyone wishes to come after Me, let him deny himself, and take up his cross daily, and follow Me.” And John 6:27, “Do not work for the food which perishes, but for the food which endures to eternal life, which the Son of Man shall give to you, for on him the Father, even God, has set His seal.”

Does your lifestyle fit within this range? Are you willing to trust God and deny yourself some indulgences?

Christian Counseling: It is important to seek good Christian counseling whenever in doubt. “Without consultation, plans are frustrated, but with many counselors they succeed” (Proverbs 15:22). God admonishes us to seek counsel and not to rely on our own resources.

The very first counselor to be used is the spouse. Many times God will provide the answer right within your own home. Husbands should not avoid their wives’ counsel in the area of finance, for many times I have found the wife’s suggestions to be useful and enlightened. Husbands and wives can frequently work out financial problems that would frustrate either of them separately.

Don’t avoid the counsel of your own children, either. Let them know what your problems are, keep them involved. Allow them to know and understand why you must adjust your living standard.

If necessary, seek professional financial counseling. I would advise counseling only from a Christian source. Often good, sound financial counseling can come from a non-Christian source, but many of the things that you want to accomplish will be nonsense to the non-Christian.

So we can see, as we examine the concept of financial freedom, that God clearly outlines when a Christian is in financial bondage, as well as the steps that lead out. Begin to put these principles into practice in your life and share them with other Christians.